AMC and Cineworld shares rise after trading

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AMC, Cineworld Shares Soar In After Hours Trading As Movie Theaters Set To Reopen Locations Across The Country In Time For Release Of Next Warner Brother Movie “Tenet” this week-end.

Teleprinter security Latest Change % Change
AMC AMC ENTERTAINMENT HOLDINGS INC 6,07 +0,19 + 3,23%
CNNWF PLC OF THE CINEWORLD GROUP 0,89 +0,01 + 1,42%

AMC Theaters, whose shares jumped more than 9% after hours on Tuesday, announced that it will welcome moviegoers back to 70% of its theaters by September 4.

The vast majority of the 420 or so locations will reopen on September 3, the same day “Tenet” launches. In addition, guests can enjoy other new summer titles including “The New Mutants”, “Unhinged”, “Words on Bathroom Walls” and “The Personal History of David Copperfield”.

AMC will also be offering customers a range of $ 5 goodies, including regular popcorn, regular Coca-Cola Freestyle drinks, and KidsPacks, through the end of October, while AMC Stubs members will earn double the amount. points on all ticket and food and drink purchases.

A spokesperson for Regal Cinemas did not immediately return FOX Business’s request for comment.

The next day, AMC plans to reopen its first California theaters, when it resumes operations in seven theaters in and around San Diego. AMC plans to make announcements in additional markets in California, New Jersey and other parts of the country in the coming weeks, once theaters are cleared to open by state and local authorities.

SUCCESS OF OFFICE OF “NEW MUTANTS” SEES DRIVING IN THEATERS EMERGING AS THE NATION’S BEST WINNERS IN THE COVID-19 PANDEMIC

AMC reopened the doors of some of its theaters on August 20, selling 15-cent tickets to celebrate 100 years of operation and to kick off its comeback after being shut down by the coronavirus pandemic.

People walk towards the entrance under the giant marquis of the AMC Theater when it reopened for the first time since it closed at the start of the COVID-19 pandemic on Thursday, August 20, 2020, in West Homestead, Pennsylvania. (AP Photo / Keith Srakocic)

AMC CEO and Chairman Adam Aron said in Tuesday’s press release that the first two weekends of operation “exceeded our expectations in terms of returning guests to the cinema and in terms of feedback on our AMC Safe & Clean policies and procedures. ”

The theater chain uses a wide variety of security measures to curb the spread of the virus, including frequent cleanings in partnership with Clorox, limited capacity for social distancing purposes, contactless ticketing, the requirement for masks for employees and members of the public, no cash accepted at concessions, no popcorn or beverage refills and multiple hand sanitizer stations.

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Meanwhile, Deadline reports that Regal Cinemas, the chain of theaters owned by Cineworld, will have theaters in New Jersey, Maryland, Alaska and some cities in California will also reopen in time for the Christopher Nolan movie release this time. weekend.

Starting Wednesday at 5 p.m., Regal will reopen its theaters in San Diego, two locations around El Dorado County and one in Sonora, California. It will also open three in Anchorage, Alaska. The movie chain will also reopen its locations in New Jersey and 11 locations in Maryland on Friday.

Cineworld shares rose 1.5% after hours of trading on the news.

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